China -- an active participant in the Organization of Asia Pacific Economic Cooperation

The Organization of Asia Pacific Economic Cooperation(APEC) is the most important forum on economic cooperation in Asia Pacific. Proposed by former Australian Prime Minister Hawk, it was formally founded in November, 1989. APEC aims to enhance economic development in Asia Pacific, increase economic exchanges, develop and strengthen an open multi-lateral trading system and reduce trade barriers among its members.

Until 1993, the highest level meetings of APEC were the annual meetings of the foreign ministers and trade ministers of its members. On November, 1993, the first APEC informal leadership meeting was held in Seattle, the United States. Since then, the leaders of APEC countries have met annually, and the importance of the organization in the regional and world economy has grown.

China attaches great importance to APEC and has taken an active part in its actives. Chinese President Jiang Zemin has attended all the APEC leadership meetings during which he made a number of initiatives and proposals regarding cooperation in and the direction of growth of APEC, thus making important contributions to the process of cooperation in Asia Pacific. China has also participated in various ministerial meetings and working groups of APEC.

APEC has in the past decade played an important role in promoting economic development of Asia Pacific and coordinating the economic interests of its members. It has also contributed its due share to promoting global economic growth.

In order to maintain its vitality and do more to stimulate both the Asian Pacific economy and the world economy, APEC should continue to give priority to economic cooperation and pursue a mode of cooperation compatible with conditions in Asia Pacific. At the same time of enhancing liberalization in trade and investment, APEC should pay more attention to increasing economic and technical cooperation so that all the members can benefit from such cooperation. China will host APEC in 2001 and will make new contributions to strengthening economic cooperation in Asia Pacific.